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obama demands the wealthy pay their fair share of taxes. but he is just another elitist hipocrite. >> this comes on a day that new york passed the toughest gun control law in the nation intended to stop mentally ill patients from buying weapons. >> we must stop the madness. >> that was andrew cuomo. they are facing tough opposition from lawmakers. they say mr. obama is looking at 19 steps he could take using only executive orders. dan? >> thank you. marin county's gun buy back program has taken hundreds of guns out of north bay homes. authorities offered up to $200 in cash. the program was so popular it ran out of money in just an hour. that's $43,000. officers collected827 guns which included a sawed off shotgun. facebook is even more personal with a launch today of a search engine that is taylor made for you. graft search works off a database from people voluntarily sharing their likes and dislikes. it is different from sites because it allows you to instantly survey the places and things they like. the new feature might lure back the 1.4
obama demands the wealthy pay their fair share of taxes. but he is just another elitist hipocrite. >> this comes on a day that new york passed the toughest gun control law in the nation intended to stop mentally ill patients from buying weapons. >> we must stop the madness. >> that was andrew cuomo. they are facing tough opposition from lawmakers. they say mr. obama is looking at 19 steps he could take using only executive orders. dan? >> thank you. marin county's gun...
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Jan 16, 2013
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obama deman the wealthy pay their fair share of taxes but he's just another elitist hypocrite when it comes to fair shir of security. protection for their kids. and gun 43 zone for ours. >> experts say the provocative attack ad shows how emotionally charged and personal the debate of gun control is becoming. no comment on this from the white house tonight. >> mean time national rifle association is experience ago big spike in membership. more than 250,000 people have signed up in the last month. group says people are scared by new legislation restricting firearms. that may true but since december the nra is offering big discounts to john. life time membership usually cost 1,000 dollars. it's now 300. year worth typically runs 35. it's now just 20 dollars. >> still ahead tonight on abc 7 news at 9. san jose state big first step toward overhaul of college as we know it. find out how california trying to make higher education more affordable. that's not the right clip but you get the idea. >> eviction day at peninsula her borrow. appears the sheriff may have to be called in if the owner
obama deman the wealthy pay their fair share of taxes but he's just another elitist hypocrite when it comes to fair shir of security. protection for their kids. and gun 43 zone for ours. >> experts say the provocative attack ad shows how emotionally charged and personal the debate of gun control is becoming. no comment on this from the white house tonight. >> mean time national rifle association is experience ago big spike in membership. more than 250,000 people have signed up in...
SFGTV: San Francisco Government Television
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Jan 16, 2013
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taxes? >> because that would require us to work with the assessor's office. there is potential down the line for the assessor's office and tax collector's office to work together to purchase the property component of the software. and spoking to the gross receipts tax there are eight different categories. or tax schedules and four progressive rates depending on the type of business activity you engage in. as i mentioned before twice as many businesss will actually be filing and remiting this tax. and they are going to have to report different data points. right now a business simply dells us this is how much payroll tax i have in san francisco and apply the 1.5% rate and then that is how much tax they owe. we're now going to have to continue to collect that information, plus what of their receipts was in each of the different categoris? because they can report in different categories and actually required to. and we will have to know much more about them and their payroll expense will need t
taxes? >> because that would require us to work with the assessor's office. there is potential down the line for the assessor's office and tax collector's office to work together to purchase the property component of the software. and spoking to the gross receipts tax there are eight different categories. or tax schedules and four progressive rates depending on the type of business activity you engage in. as i mentioned before twice as many businesss will actually be filing and remiting...
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Jan 16, 2013
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tax system. so we know what the answers are. were going to fight it the specifics, but we don't know at what point the political system is going to be willing to make all those traces, which are difficult compromise on both sides and put this issue to rest so we can go back to all the other things were going to fight about. the fact you can sue a policy solutions are more passed the tennis doesn't matter, but everybody recognized the threat that she can't possibly imagine a real growth, and without a sense of stability from knowing what changes obesity you can not planning, investments, job creation, all the necessary pieces of moving the economy forward. but the big wild card is when people are willing to make these type choices instead of using them to fight in the normal political boxes. what do i think's going to happen next? it's often a different path. if you think about prospect theory which basically says when you deliver good news committee want to do it in lots of little pieces. at firs
tax system. so we know what the answers are. were going to fight it the specifics, but we don't know at what point the political system is going to be willing to make all those traces, which are difficult compromise on both sides and put this issue to rest so we can go back to all the other things were going to fight about. the fact you can sue a policy solutions are more passed the tennis doesn't matter, but everybody recognized the threat that she can't possibly imagine a real growth, and...
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Jan 16, 2013
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it is within our reach to reduce taxes. it is within our reach to lead in job growth and energy independence. it is within our reach to balance our budget and meet the needs of our people. our place, kan., must show the path, the difficult path for america to go in these troubled times. .. the and >> we and shannon >> thank you. >> that was governors sam brownback with the state of the state address. we now go to senator anthony headley for the democratic response to enact we have been talking that the string that we have time. we have talked about how i have a dream. we will somehow realizes principles and the declaration of independence. i think he was just inspired by that moment. >> sunday on "after words", clairborne carson recalls his march on washington. it is part of three days of the tv this weekend on monday featuring authors and books from the inauguration. president obama, and martin luther king jr. >> every weekend latest nonfiction authors and books are featured on booktv. you can see past programs and schedul
it is within our reach to reduce taxes. it is within our reach to lead in job growth and energy independence. it is within our reach to balance our budget and meet the needs of our people. our place, kan., must show the path, the difficult path for america to go in these troubled times. .. the and >> we and shannon >> thank you. >> that was governors sam brownback with the state of the state address. we now go to senator anthony headley for the democratic response to enact we...
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Jan 16, 2013
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not all will be in taxes of the part will be in cuts and part in taxes. we can't be in place t ignore investments we need to make in infrastructure. there is report out today we could lose $3 trillion over next eight years. melissa: stephen, i'm sure you're chomping at the bit to respond to that? >> look, one thing i will say to president obama he came to office in 2008 saying he would raise taxes. he has done it. this is what the president does. this is the way that he conducted himself in office. if you look back to after he lost and you think was rebuked fairly strongly in the 2010 midterm elections, he came back and gave a state of the union, a couple months later and said, just as susan did, we need to save more because we need more money for investments of the this is the way the president governor earns. he is a tax-and-spend liberal of the old school and i think it's, entirely clear that he could ask for moreaxes. melissa: i feel like i'm going insane here because i feel like there was some sort of conversation about, is is going to be balanced ap
not all will be in taxes of the part will be in cuts and part in taxes. we can't be in place t ignore investments we need to make in infrastructure. there is report out today we could lose $3 trillion over next eight years. melissa: stephen, i'm sure you're chomping at the bit to respond to that? >> look, one thing i will say to president obama he came to office in 2008 saying he would raise taxes. he has done it. this is what the president does. this is the way that he conducted himself...
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a consumption tax? a carbon tax? a value added tax? a gas tax, butat you consume. when you spend your money, you get taxed. that's a big revenue hog. >> megyn: it's a big number for a lot of americans, stu, thank you. >> sure. >> megyn: coming up, new details on a terrifying hour's long ordeal for a woman who found herself in a tight spot. trace is next on how crazy this scene came to be. stay with us. >> now a story about how a teen spirit is sidelined by flu fears in new york. the new york soccer club is banning hand shakes and high-fives for now anyway, and they didn't breathe on each other either, it's like, okay, kind of hard to stop, but all right. the president of the club happens to be an infectious disease specialist and she knows what she's talking about and says they're asking parents to keep sick kids at home. that's smart. and using the word epidemic here, already more than 19,000 confirmed cases of flu, compared to 4,000 last year and seems more and more people are complaining about getting it, even after their vaccinations. well, it makes for rivetin
a consumption tax? a carbon tax? a value added tax? a gas tax, butat you consume. when you spend your money, you get taxed. that's a big revenue hog. >> megyn: it's a big number for a lot of americans, stu, thank you. >> sure. >> megyn: coming up, new details on a terrifying hour's long ordeal for a woman who found herself in a tight spot. trace is next on how crazy this scene came to be. stay with us. >> now a story about how a teen spirit is sidelined by flu fears in...
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Jan 16, 2013
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let me ask you about tax reform. you told politico last week that a, quote, a balanced approach to replacing the sequester with spending cuts and revenue should accelerate tax reform, and i believe it's fully possible this year if we work on a bipartisan basis, unquote. how does that square, sir, with the people who say that tax reform is going to lose out because of scheduling, the need to deal with the debt ceiling, the need to deal with the looming she quester and the house republicans' concern that if they do anything on tax reform, that they may leave themselves up to the senate not to take action, and, therefore, they've taken an unpopular vote for no reason. why are you optimistic on tax reform? >> first of all, we have to resolve this debt can crisis in terms of -- this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. in the next six weeks. we aren't going to accomplish tax reform in the next six weeks. so we have a deadline that i think cannot basically be moved for
let me ask you about tax reform. you told politico last week that a, quote, a balanced approach to replacing the sequester with spending cuts and revenue should accelerate tax reform, and i believe it's fully possible this year if we work on a bipartisan basis, unquote. how does that square, sir, with the people who say that tax reform is going to lose out because of scheduling, the need to deal with the debt ceiling, the need to deal with the looming she quester and the house republicans'...
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Jan 16, 2013
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they don't want any taxes. the tax word is very powerful. for the republicans they're doing what their neighbors and constituents want. >> reporter: it doesn't sound like you think at least on the state level and maybe on the federal level that this ideological split, the republicans, democrats, at a party and so forth it doesn't sound like you have a lot of hope that that could be bridged. >> i'm a very hopeful person and i'm optimistic about california that we found a way around the log jam. but i have to tell you the ideology of the republicans is different than the democrats. they don't mind the inequality. or they believe by giving more money to the most well off that it will trickle down and everyone will get better off. yes, america is facing not a problem but a crisis of governing. if we can't overcome it, then we had deteriorate and no longer be a world leader. >> reporter: it's that serious? and just one question. you reported you had prostate cancer. >> yes. reporter: how are you doing? i'm doing well. ask me in 20 years. >> repor
they don't want any taxes. the tax word is very powerful. for the republicans they're doing what their neighbors and constituents want. >> reporter: it doesn't sound like you think at least on the state level and maybe on the federal level that this ideological split, the republicans, democrats, at a party and so forth it doesn't sound like you have a lot of hope that that could be bridged. >> i'm a very hopeful person and i'm optimistic about california that we found a way around...
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does the secretary share my concerns the government might further tax a high tax payers in wales? >> government is considering their recommendation of the report and we would be reported by those very shortly. that will be the appropriate time. >> we all know that millionaires spend -- [inaudible] can he tell us dummy millionaires are in wales? >> he knows as well as i do the road, few millionaires in wales. but what i can tell him is that in every year this parliament they will be paying more tax than they did in each year of the last labour government. >> thank you, mr. speaker. but isn't the real danger that with a government changes in tax and benefits in wales, you will see in particular in the community with the vast majority of people work of those people will have less money in their pockets? they will have less money to spend in local shops? there will be more shops closing. there will be fewer people in jobs and it will be a double whammy for the welsh economy? >> if he wants to be taken seriously with having a mess about deficit reduction, he knows you cannot begin to t
does the secretary share my concerns the government might further tax a high tax payers in wales? >> government is considering their recommendation of the report and we would be reported by those very shortly. that will be the appropriate time. >> we all know that millionaires spend -- [inaudible] can he tell us dummy millionaires are in wales? >> he knows as well as i do the road, few millionaires in wales. but what i can tell him is that in every year this parliament they...
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get a tax deduction for hiring you create a bloomberg they're going to get up to nine hundred sixty million dollars from the taxpayers via to wal-mart but don't expect to see any of that money tax breaks after all go to rich people like walmart c.e.o. and their major stockholders and you're just one of the pia but still you get a job right out of wal-mart no they can hire you because so many wal-mart employees are so poorly paid and treated that lots of associates are leaving their jobs every day so there's always room for it especially with that nice fat new tax break for wal-mart if they hire you whatever skills you learn in the military from supervising construction to i.t. to office work just at that stuff aside instead you're gonna be stocking shelves and running cash registers and korean people at the door and earning so little money that you and your kids will still qualify for food stamps is that great and when sam walton started wal-mart he was proud that pretty much everything in his store was made here in the good ole usa going congress changed our trade laws in the eight
get a tax deduction for hiring you create a bloomberg they're going to get up to nine hundred sixty million dollars from the taxpayers via to wal-mart but don't expect to see any of that money tax breaks after all go to rich people like walmart c.e.o. and their major stockholders and you're just one of the pia but still you get a job right out of wal-mart no they can hire you because so many wal-mart employees are so poorly paid and treated that lots of associates are leaving their jobs every...
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. >> reporter: property tax revenues have dropped and the tax measure was voted down. now, those are just hopeful that we do not see a worse case scenario. >> there could be a terrible situation if there is a fire there is going to be a big fire and we're going to need all the help we can get. >> reporter: some of this talking is talking about ambulance services. that way, they can still get some emergency crews to respond. reporting live in contra costa county, kron 4. >> here are the four stations closing today in contra costa county. in martinez - station 12 on shell avenue. in lafayette - station 16 on los arabis avenue. walnut creek loses station 4 on hawthorne drive. and in clayton, station 11 on center avenue. you can see how wide-spread the impact of longer response times is. >> pam: the oakland public safety committee is expected to make a decision. which is already stirring up contreversy. city council members decide will whether to adopt a resolution. to hire crime - fighting consultant william bratton. new tonight at eight. kron 4's reggie kumar is live out
. >> reporter: property tax revenues have dropped and the tax measure was voted down. now, those are just hopeful that we do not see a worse case scenario. >> there could be a terrible situation if there is a fire there is going to be a big fire and we're going to need all the help we can get. >> reporter: some of this talking is talking about ambulance services. that way, they can still get some emergency crews to respond. reporting live in contra costa county, kron 4....
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the firehouses closed because a tax measure was not passed and property tax revenues are down. contra costa county now has 220 firefighters?.that is well below the 600 they?d like to have. they say these closure will affect response times to emergency?s. >> whether or not it is going to be a 22nd second delay or 1.5 minutes, it is going to impact on response time. >> they are going to talk about other emergency crews, such as ambulances. and the fact that nobody lost their jobs. if there is a good portion of this story. j. r. stone, kron 4 news. four stations close today in contra costa county. in martinez - station 12 on shell avenue. in lafayette - station 16 on los arabis avenue. walnut creek loses station 4 on hawthorne drive. and in clayton, station 11 on center avenue. new information. reveals thand clayton, station no. 11. and if you look at this map you can see the widespread. >> pam: new information about tanker pilot who hit a tower on the bay bridge last week, switched course as he was approaching the bridge. the damage to the base of the tower on the bridge suffered
the firehouses closed because a tax measure was not passed and property tax revenues are down. contra costa county now has 220 firefighters?.that is well below the 600 they?d like to have. they say these closure will affect response times to emergency?s. >> whether or not it is going to be a 22nd second delay or 1.5 minutes, it is going to impact on response time. >> they are going to talk about other emergency crews, such as ambulances. and the fact that nobody lost their jobs. if...
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we did raise a tax on all citizens called the sales tax, a quarter of a cent. and we raised the tax on individuals who make more than $250,000 or couples who make more than $500,000. so that's what we did. there's no doubt america is overcommitted. wee orcommitted abroad with our several hundred drid military installations. we're overcommitted in our borrowing 40 cents for every dollar. >> reporter: answer me a question about the ideology and the gridlock between republican and democrats? it seems to be parallel to what's going on in the united states' congress at the same time. >> well, in california through the initiative process, the republicans refused to give me even a two-vote in each of the houses to put my tax. not into effect but before the people or judgment had a statewide election. they wouldn't do it. so i had to go to the people directly through the california initiative. they voted by 55%, saying, yes, raise these taxes and help our schools and help our universities. so that was the way to break the log jam. >> reporter: are you saying that's the
we did raise a tax on all citizens called the sales tax, a quarter of a cent. and we raised the tax on individuals who make more than $250,000 or couples who make more than $500,000. so that's what we did. there's no doubt america is overcommitted. wee orcommitted abroad with our several hundred drid military installations. we're overcommitted in our borrowing 40 cents for every dollar. >> reporter: answer me a question about the ideology and the gridlock between republican and democrats?...
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Jan 16, 2013
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FBC
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>> well, look, a lot of what has us here is tax cuts, and i know you don'tment to hearment want t taxes are l. neil: just keep raising them? >> we need a combination, a planned approach -- neil: like a 40 to 1 tax hike to spending cut deal. >> are you kidding? we've done $1.8 trillion of spending cuts. >> woe okay woe, wait, where are these spending cuts, they are always in the future, all in the future. actual spending we spending 25 pierc25%more now. >> you have to cut it in the future. neil: we have spend a hell of a lot of time talking over one another that always helps me, when we come back, get the flu shot or another job? can a boss do that. several bosses, who did that. and there is nothing, nothing that the workers could do about it. nothing. look at jimmy carter, i always knew he was watching me, now i knew he was watching me, now i have the [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investme
>> well, look, a lot of what has us here is tax cuts, and i know you don'tment to hearment want t taxes are l. neil: just keep raising them? >> we need a combination, a planned approach -- neil: like a 40 to 1 tax hike to spending cut deal. >> are you kidding? we've done $1.8 trillion of spending cuts. >> woe okay woe, wait, where are these spending cuts, they are always in the future, all in the future. actual spending we spending 25 pierc25%more now. >> you have...
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Jan 16, 2013
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now if they make a deal on the debt deal that eliminates tax-free bonds being attacked, the tax-free bonds being attacked at the white house, then it changes as the markets are pricing in a risk that may happen. which means it doesn't happen, tax-free bonds are cheap. lori: bigger picture, we saw huge inflow of into the equity market last week. the data was shocking to a lot of people, are you seeing a rotation out of bounds because the rates have been low for so long? >> we had a massive inflow into bonds. early data would show there is a shift, but potential for a shift to stocks given the relative yields and the potential i think it's quite good, very large, i like it. lori: thank you for sharing your outlook on things. good to see you. >> thanks. tracy: i love how he said in glorious outcome, that invokes like jesus coming down to make it happen or something. lori: and i could be the next treasury secretary. tracy: and you do have nice penmanship. president obama signing 23 actions in the last hour urging out the time to act on gun violence in america. peter barnes at the white h
now if they make a deal on the debt deal that eliminates tax-free bonds being attacked, the tax-free bonds being attacked at the white house, then it changes as the markets are pricing in a risk that may happen. which means it doesn't happen, tax-free bonds are cheap. lori: bigger picture, we saw huge inflow of into the equity market last week. the data was shocking to a lot of people, are you seeing a rotation out of bounds because the rates have been low for so long? >> we had a massive...
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Jan 16, 2013
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FBC
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>> well, look, a lot of what has us here is tax cuts, and i know you don'tment to hearment want t taxes are low. neil: just keep raising them? >> we need a combination, a planned approach -- neil: like a 40 to 1 tax hike to spending cut deal. >> are you kidding? we've done $1.8 trillion of spending cuts. >> woe okay woe, wait, where are these spending cuts, they are always in the future, all in the future. actual spending we spending 25 pierc25%more now. >> you have to cut it in the future. neil: we have spend a hell of a lot of time talking over one another that always helps me, when we come back, get the flu shot or another job? can a boss do that. several bosses, who did that. and there is nothing, nothing that the workers could do about it. nothing. look at jimmy carter, i always knew he was watching me, now i have the proof. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real
>> well, look, a lot of what has us here is tax cuts, and i know you don'tment to hearment want t taxes are low. neil: just keep raising them? >> we need a combination, a planned approach -- neil: like a 40 to 1 tax hike to spending cut deal. >> are you kidding? we've done $1.8 trillion of spending cuts. >> woe okay woe, wait, where are these spending cuts, they are always in the future, all in the future. actual spending we spending 25 pierc25%more now. >> you...
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Jan 16, 2013
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FBC
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stuart: drop the personal income tax at the state level and they switch to a sales tax. that's what they are talking about doing. liz: it's being criticized because it's being considered regressive. stuart: but everybody pays. liz: i don't like the government of the state knows my income. that bothers me. charles: making exception for food groceries and also utilities. stuart: that's true. nebraska's governor joins us tomorrow on this program. he's going to talk about all this, 9:20 eastern is when we kick it off. the highlight reel is next. stuart: a program note. tomorrow charles payne sit in this chair. i am out, charles and in. here is a highlight reel. the new gum law
stuart: drop the personal income tax at the state level and they switch to a sales tax. that's what they are talking about doing. liz: it's being criticized because it's being considered regressive. stuart: but everybody pays. liz: i don't like the government of the state knows my income. that bothers me. charles: making exception for food groceries and also utilities. stuart: that's true. nebraska's governor joins us tomorrow on this program. he's going to talk about all this, 9:20 eastern is...
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Jan 16, 2013
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CNBC
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tax or no tax, middle east, those guys good at what they do. how you doing? >> caller: a big booyah from florida. >> what's going on, sunshine? >> caller: a called a month ago for cisco. y you told me to buy. now it's 21. you think i should buy? >> i think it's good. a very hard stock. i see the orders coming from the telco ies, so my charitable trust pulled the trigger, bought cisco. i think it will go to 24. >>> sally in california. >> caller: a big booyah to you from california. can you tell me about anteras pharmaceutical. ants. >> the injectables, very competitive. not a believe every or buyer of that particular industry, not that crazy on the stock. >>> let's go to drew in california. >> caller: dr. cramer, l.a. king stanley cup champ ba ba booyah to you. >> what's up? >> caller: thank you for getting be mac me back in the game in 2012. chesapeake, chk. >> a hard one to own frankly. i'll tell you why. my trust owns southwestern energy, which i think the ceo will tell you, a darn good company. natural gas prices won't go up i feel. and i worry about the
tax or no tax, middle east, those guys good at what they do. how you doing? >> caller: a big booyah from florida. >> what's going on, sunshine? >> caller: a called a month ago for cisco. y you told me to buy. now it's 21. you think i should buy? >> i think it's good. a very hard stock. i see the orders coming from the telco ies, so my charitable trust pulled the trigger, bought cisco. i think it will go to 24. >>> sally in california. >> caller: a big...
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Jan 16, 2013
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the president ran on raising taxes on the upper class. he raised taxes on 77% of us. where are the spending cuts? guest: the president laid out in his press conference there have been $1.5 trillion in terms of spending cuts and caps on appropriation bills. those caps have been adhered to. it is a myth we have not had spending cuts. are we going to hit health care? i feel deeply in terms of research. a quick story. my wife ran a group at nih. when she started, there would have for peer review 100 applications. maybe 50 of them were topflight and there were reviewed by peer review. out of that they might pick 25 that should be funded. in those days, there was enough money of the top caliber to fund may be 10, 15. wo, or it is one, tow, o three of the original 100. there is not adequate funding for our health. are we going to further cut funding for nih for health research in this country? we need to retrain americans so they can qualify for every kind of job. we have a trainee deficit in this country. we need to do a better job. are we going to hurt that effort? that is
the president ran on raising taxes on the upper class. he raised taxes on 77% of us. where are the spending cuts? guest: the president laid out in his press conference there have been $1.5 trillion in terms of spending cuts and caps on appropriation bills. those caps have been adhered to. it is a myth we have not had spending cuts. are we going to hit health care? i feel deeply in terms of research. a quick story. my wife ran a group at nih. when she started, there would have for peer review...
SFGTV2: San Francisco Government Television
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Jan 16, 2013
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this is tax incentives. you have to have tax liability. you have to pay taxes to make this thing valuable to you, but most people do. the law is written at 30% of the cost you can have a tax credit of 30%. let's talk about real numbers. what am i paying now and what am i going to be paying in the future? if i can make money today on my monthly payment and go green, why not? solar kind of reverses the effect. it's like tax brackets. the return on investment typically is higher if you got a big bill. there is also another thing about time of use rates. i want to go over it very briefly. it does have some effect and you will hear it about on your bid. the time of use rate is a way that you tilts are trying to help -- utilities are trying to manage their peak demand. you charge people more during peak periods. you make it up to them by charging the low market rate off peak. this is off peak and you'll be charged a very low rate for it. at shoulder peak you'll be charged more. at on peak, you'll be charged the most, another shoulder, another of
this is tax incentives. you have to have tax liability. you have to pay taxes to make this thing valuable to you, but most people do. the law is written at 30% of the cost you can have a tax credit of 30%. let's talk about real numbers. what am i paying now and what am i going to be paying in the future? if i can make money today on my monthly payment and go green, why not? solar kind of reverses the effect. it's like tax brackets. the return on investment typically is higher if you got a big...
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we already took a step in that direction in the tax reform bill that we pass the tax bill, the so-called p's provision. we have to look at it better. there's a proposal, and where's the budget? well, the president had in budget proposals a 28% limit on deductions itemized deductions, and i think we need to look at that, but carefully, charitable contributions, for example, mortgage interests, state and local taxes so that's a major area and the president proposed essentially $600 or $700 billion in ten years from that areament i don't think we can now obtain that much even if we adopt the president's 28% limit, but -- >> host: why not? >> guest: why not? because i think we have to look at the impact on charitable contributions. most -- half of the charitable contributions in the country, a lot of us, most contribute something, but a lot comes from the very wealthy. i think we need to be careful we don't come too -- come down too hard -- >> host: we need more coffee. >> guest: we have to look at that, and, also, let me mention interest. most viewers probably don't know what carrieded inte
we already took a step in that direction in the tax reform bill that we pass the tax bill, the so-called p's provision. we have to look at it better. there's a proposal, and where's the budget? well, the president had in budget proposals a 28% limit on deductions itemized deductions, and i think we need to look at that, but carefully, charitable contributions, for example, mortgage interests, state and local taxes so that's a major area and the president proposed essentially $600 or $700...
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tax in the nation. will the latest bump push them out? we bring in larry gerston and there's a lot of money at stake here. >> we need wealthy people here. that's for sure. here's why, jessica. before proposition 30 passed, the wealthiest 1% of californians paid 40% of all state income taxes or about $20 billion annually. that's particularly important because the income tax itself accounts for more than 60% of the state general fund. and the proportion paid by the wealthy will be even higher once proposition 30 kicks in. >> it's not really realistic to think that rich people will up and leave the state. >> there are no indication of wealthy flight that's for sure. it's just the opposite. according to public policy institute of california, the ones that leave every year have low incomes, little education and higher unemployment rates more so than the state as a holhol whole. even after voters pass the millionaires tax in 2004, the state still maintained the percentage of the ultrarich. no flight. >> is th
tax in the nation. will the latest bump push them out? we bring in larry gerston and there's a lot of money at stake here. >> we need wealthy people here. that's for sure. here's why, jessica. before proposition 30 passed, the wealthiest 1% of californians paid 40% of all state income taxes or about $20 billion annually. that's particularly important because the income tax itself accounts for more than 60% of the state general fund. and the proportion paid by the wealthy will be even...
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Jan 16, 2013
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and call it a liberal tax. the conservative restaurant owner charges left-wing moore for their drink and donate the cash to right-wing causes. is it a boom for his business? the owner serves as a big helping of a government economics. even when i say this not, it is always about "money." adam: and a good evening to you. we want to look at the days headline market. a tough day for stocks. the dow snapped a five-day winning streak falling 23 points. more turbulence for boeing 787 dreamliner. a faulty battery forced an emergency landing of a 787 in japan after a result the japan airlines are grounding their entire dreamliner flight facing safety inspections. shares of boeing fell more than 3%. hewlett-packard rallied more than 4% reported they received buyer interest for the edf units in recent days, however sources say no major sailors coming anytime soon. but we have to move on to the story that everybody is talking about. president obama signing 23 separate executive actions on gun violence today. and those act
and call it a liberal tax. the conservative restaurant owner charges left-wing moore for their drink and donate the cash to right-wing causes. is it a boom for his business? the owner serves as a big helping of a government economics. even when i say this not, it is always about "money." adam: and a good evening to you. we want to look at the days headline market. a tough day for stocks. the dow snapped a five-day winning streak falling 23 points. more turbulence for boeing 787...
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. >> you want to go for more tax increases after the tax increases that went through on the fiscal cliff? >> i think closing loopholes, i think there has to be revenue enhancement and closing loopholes, already raised the tax rates, but there's got to be some spending cuts to go along with it. i'm not going to give away the store unless we get something in return. >> you did that already. did you that already at the end of the year? >> i'm not in congress thankfully. i'm running a very fiscally prudent state that's well managed and lives within its means and saves money for a rainy day and is growing the economy to produce more growth money by expanding a healthy economy. washington would do a lot to listen and watch what we're doing in utah because we're doing it right. >> you sure r.governor, thanks very much. appreciate your time today. >> thank you. >> we'll see you soon, governor. thank you. >> headed towards close, sort of meandering here, and much of the decline for the dow, down 32 points, the result of boeing's decline today which we'll be talking about. >> up next, jpmorgan ceo
. >> you want to go for more tax increases after the tax increases that went through on the fiscal cliff? >> i think closing loopholes, i think there has to be revenue enhancement and closing loopholes, already raised the tax rates, but there's got to be some spending cuts to go along with it. i'm not going to give away the store unless we get something in return. >> you did that already. did you that already at the end of the year? >> i'm not in congress thankfully. i'm...
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president said if he got his tax increase he would cut spending. he needs to fulfill that promise, but this is an important time for us to decide that we're going to make those hard decisions and cut spending. you really got two choices. we can balance the budget this year by not raising the debt limit or we can do the democrats' ray way and never raise it at all. actually, you are going to hear conservatives present a third option and that is put us on a path to balance within ten years. we can do that without cutting anything from what americans are expecting. that is what we need to do. >> neil: what bothers me the most, senator, we go through elaborate hoops to avoid this thing, trillion dollar coin even 14th amendment and giving the president sole discretion and then address the underlying problems that keeps creating that. why do we do that? >> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think th
president said if he got his tax increase he would cut spending. he needs to fulfill that promise, but this is an important time for us to decide that we're going to make those hard decisions and cut spending. you really got two choices. we can balance the budget this year by not raising the debt limit or we can do the democrats' ray way and never raise it at all. actually, you are going to hear conservatives present a third option and that is put us on a path to balance within ten years. we...
SFGTV: San Francisco Government Television
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Jan 16, 2013
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were there other classifications reviewed rather than just the structure within the treasurer/tax collector? it could very well be this is right classification. i just want to understand that process. >> supervisor, as you know, all of the city's classifications are reviewed by dhr and i know dhr did work with the treasurer's office to identify the appropriate classifications. the09 53 position, just the salary and range for that position is $125,000 to $159,000 on an annual basis. i think the information reflected in the budget analyst's report is the fully-loaded costs meaning the fringe benefits and the salaries as well. the deputy director 3 the 0 53 as i understand is the appropriate deputy director level for the treasurer's office based on their organizational structure, which uses the 0953 classification. >> if i just take a look at the high-end of that classification, at $159,000, and i'm multiply it .42, i still only get $226,000, so i just wanted to understand what the differential was. why don't we go to the budget analyst's report. >> madame chair and supervisor avalos, yes, tha
were there other classifications reviewed rather than just the structure within the treasurer/tax collector? it could very well be this is right classification. i just want to understand that process. >> supervisor, as you know, all of the city's classifications are reviewed by dhr and i know dhr did work with the treasurer's office to identify the appropriate classifications. the09 53 position, just the salary and range for that position is $125,000 to $159,000 on an annual basis. i...
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i thought conservatives hated taxes. burnett said this liberal tax exists to make a point. >> we have a fiscal problem in this country. we've got to deal with it or we don't have a country. so to kind of help make that point a little bit, i charge them just a little bit more. >> yeah, it's all our fault. to add insult to injury, burnett donates the extra dollar to the conservative cause like the heritage foundation. jim demint will like that. but vernal, utah, is located in solid red county, folks. 90% of the residents there voted for mitt romney. less than 9% voted for barack obama. burnett's controversial pricing is getting him free publicity and lots of love from local republicans. but his stunt will not single-handedly fund jim demint and the heritage foundation. at $1 per liberals, let's add it all up. >> actually, all three liberals have been happy to pay it. >> there you go. heritage foundation, good luck with the three extra bucks. don't spend it -- well, yeah, go ahead, spend it in one place. >>> tonight in our
i thought conservatives hated taxes. burnett said this liberal tax exists to make a point. >> we have a fiscal problem in this country. we've got to deal with it or we don't have a country. so to kind of help make that point a little bit, i charge them just a little bit more. >> yeah, it's all our fault. to add insult to injury, burnett donates the extra dollar to the conservative cause like the heritage foundation. jim demint will like that. but vernal, utah, is located in solid...
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Jan 16, 2013
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it's don't tax me and don't tax me, tax that fella hind the tree. it's always the lower-end people. in order to make $250,000 a year, which they always keep sticking up, you have to make $5,000 a week. and i don't think i ever made $50,000 in one year. jorge: all right. i'm going to leave it at that point and have the congressman respond. gar: i think the gentleman raises an issue. the middle class of this country has essentially had on average a rather stagnant wage. while the very wealthy, on average, the last years have done very well. i mentioned 2010. over 90% of income gregget went to the top 1% -- growth went to the top 1%. so, we in this country have to make a decision. is it everybody on their own? or everybody must pull their weight but we're still a community? host: on twitter -- guest: i think maybe once. but i have voted for many, many, many times and i never have voted to use it as a weapon. i never have used it essentially saying to this country, we cannot -- we don't have to pay our bills and we can shatter the full faith and credit of the united states. host: coming
it's don't tax me and don't tax me, tax that fella hind the tree. it's always the lower-end people. in order to make $250,000 a year, which they always keep sticking up, you have to make $5,000 a week. and i don't think i ever made $50,000 in one year. jorge: all right. i'm going to leave it at that point and have the congressman respond. gar: i think the gentleman raises an issue. the middle class of this country has essentially had on average a rather stagnant wage. while the very wealthy, on...
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Jan 16, 2013
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what to do with the tax man on a queue. don't go away gerri: the story of the tax payers dreadnoughts. one in every age we win that one in 2011. you can expect even more this year. especially for those high income earners. so what happens next? we have your bottom line coverage of crucial test in navigating the process. when he is the founder and president of diversified financial consultant. welcome back to the show. >> thank you. gerri: i was mentioning that the irs really win after its people last year. how is this different? >> well, they go where the money. lots of people have the money. more important, they are targeting small business owners and these are the guys are taking, they have targeted them and that is where the money is. gerri: okay, a lot of people will not be happy to hear that. let's talk about the rest. >> once people get dreaded notice in the mail, typically that is the irs looking for classification and clarification of information. they can come to your office to your account office. >> so i have hav
what to do with the tax man on a queue. don't go away gerri: the story of the tax payers dreadnoughts. one in every age we win that one in 2011. you can expect even more this year. especially for those high income earners. so what happens next? we have your bottom line coverage of crucial test in navigating the process. when he is the founder and president of diversified financial consultant. welcome back to the show. >> thank you. gerri: i was mentioning that the irs really win after its...
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government will take in about $210 billion in tax revenues in february. a vocal minority in washington now argues those figures show it is possible for the u.s. government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the unit ed states to pay any of its bills as a threat it could one day stop paying some or all of its bills, including interest on its debt. >> if we pay the chinese the interest we owe them on their sovereign debt holdings, on time and in full, but we don't pay social security recipients or armed services personnel their salaries, is that a default? well, of course it is. >> reporter: a
government will take in about $210 billion in tax revenues in february. a vocal minority in washington now argues those figures show it is possible for the u.s. government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to...
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they agreed to higher taxes on a certain group of people. >> they got permanent tax cuts for 98% of the people. >> that's obama's line. look, they don't have to cave now. now the issue is spending and debt. they should not, they must not cave now. >> sean: why do you disagree? >> i'm just, i'm a realist and a pragmatist. and i do not believe that there's any possibility of dealing with entitlement spending in the the next eight weeks to get something through congress. >> sean: quick question. >> which is what we need to do. >> sean: what wok so bad if the republicans said we're not going to raise the debt ceiling unless there's significant cuts. >> that should be the opening position. >> sean: then you have them cave? >> there has to be-- >> you two are hard to take seriously in your jeans, stuart varney is wearing a sport coat and-- it's not a suit and thrown my whole world upsidedown. >> sean: he's got lighter jeans. >> flat-out changed the subject. >> i learned that somewhere. >> sean: dodge. >> shift in position. >> sean: you say sage bob beckel "the five". >> did you not to that. t
they agreed to higher taxes on a certain group of people. >> they got permanent tax cuts for 98% of the people. >> that's obama's line. look, they don't have to cave now. now the issue is spending and debt. they should not, they must not cave now. >> sean: why do you disagree? >> i'm just, i'm a realist and a pragmatist. and i do not believe that there's any possibility of dealing with entitlement spending in the the next eight weeks to get something through congress....
SFGTV2: San Francisco Government Television
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Jan 16, 2013
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the tax and treasury's office did let us know that with some businesses if they are just in automatic mode, they may not and they may just issue their renewals with the current business registration amount and so, for the on-line renewals we will automatically capture that dollar but any checks that are mailed in may not. they may or may not see the new dollar requirement. and so, they have kind of made an internal determination that depending on the degree we may or may not be able to company tur that dollar. with this new program, and i am really appreciative because i think as you have heard from small businesses, small businesses were the ones that really made this recommendation to the state to put it into a law. >> next, i have provided for you what i think is a really good summation of sb 1186 for you to take a look at. a few things that i want to highlight that are small business related
the tax and treasury's office did let us know that with some businesses if they are just in automatic mode, they may not and they may just issue their renewals with the current business registration amount and so, for the on-line renewals we will automatically capture that dollar but any checks that are mailed in may not. they may or may not see the new dollar requirement. and so, they have kind of made an internal determination that depending on the degree we may or may not be able to company...
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Jan 17, 2013
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more from the fuel tax than the sales tax. our concept is to replace the 18.4 cents. for gas, it would be an 8.4 cent increase -- not increase, 8.4 cents rate on gasoline and 10.6% rate for diesel and we have set the rate at a point where it sustains the solvency of the highway trust fund. we are currently spending $15 billion more from the highway trust fund than receive news coming in and that's not sustainable. we are hearing conservative republicans in the house don't like to transfer money from the general fund to the highway trust fund. we are thinking what would they like better. and maybe if we have a system where we go back to the system that has been the case in transportation for 50 years where highway users pay their own way, sustain the solvency of the trust fund. here's the chart. we are talking about bringing in $52 billion rather than $37 billion the first year and then seeing it increase over time. so the consequence of this program is if you look at three different figures, what will it take to sustain highwa
more from the fuel tax than the sales tax. our concept is to replace the 18.4 cents. for gas, it would be an 8.4 cent increase -- not increase, 8.4 cents rate on gasoline and 10.6% rate for diesel and we have set the rate at a point where it sustains the solvency of the highway trust fund. we are currently spending $15 billion more from the highway trust fund than receive news coming in and that's not sustainable. we are hearing conservative republicans in the house don't like to transfer money...
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but the governor reffsed to ssy whether he wwll seek a hike in eithertheesales tax or gas tax...to payfoorhhghways and mass transitt 3 maayland officials labee thhs pear's inffuenza as 'wideepread.' ''idesppeed.'paul gessler protect yourself with a flu shot.paul-- & 3 itts onee hing to hear these pleas from health officials... but, i talkee to a family who paiifully knows all too welll.. how serious the flu pan be..--3 be. 3&pkrista respass, mother:"in every room, theee's a piece of jonah here, too."flu seasoo hits the espass family harder than most.krista: "you cut his hairr nd he looks like a baby again."their son, jonah, died five yearr ago.krista 3 sudden cardiac arrest, as a reeulttof the flu--the seasonal fll."krrstt and harryy &phad just brought jonah back respass, mother:"we knew riiht -3& away it was the flu, beccuse we had both had itt"harry respass, father:"within a couple hours later,,that's when everything changed." 3 90 minuues of mmetucking him 33 to check on him, he was gone.. jonah was 2 and a half years old.harryyrespass, father:"he woulddbe in thh eeond grade now."krista respass
but the governor reffsed to ssy whether he wwll seek a hike in eithertheesales tax or gas tax...to payfoorhhghways and mass transitt 3 maayland officials labee thhs pear's inffuenza as 'wideepread.' ''idesppeed.'paul gessler protect yourself with a flu shot.paul-- & 3 itts onee hing to hear these pleas from health officials... but, i talkee to a family who paiifully knows all too welll.. how serious the flu pan be..--3 be. 3&pkrista respass, mother:"in every room, theee's a piece...
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later on fox business i want you to meet the corn husker turned tax buster. the latest governor to give the income tax shove. do you notice a trend here? more and more governors, republicans governors are doing this. what are they up to? what are they really up to? tonight at 8:00. >> eric: hello, i'm eric bolling with andrea tantaros, bob beckel,be dana perino and gregreg gutfeld is back! it's 5:00 in new york city. this is "the five." ♪ ♪ >> eric: as expected, president become become used kids as backdrop addressing the american people on the plans for a new gun control. here he is. just hours ago. >> these are smart letters from some pretty smart young people. hennah a third grader. you can wave. that's you. henna wrote, i feel terrible for the parents who lost their children. i love my country and i want everyone to be happy and safe. grant -- go ahead and wave, grant. grant said i think there should be some changes. learn from what happened at sandy hook. i feel really bad. >> eric: the president outlined a series of proposals including closing backg
later on fox business i want you to meet the corn husker turned tax buster. the latest governor to give the income tax shove. do you notice a trend here? more and more governors, republicans governors are doing this. what are they up to? what are they really up to? tonight at 8:00. >> eric: hello, i'm eric bolling with andrea tantaros, bob beckel,be dana perino and gregreg gutfeld is back! it's 5:00 in new york city. this is "the five." ♪ ♪ >> eric: as expected,...
SFGTV2: San Francisco Government Television
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right after within a couple of weeks after the tax collecters. the next project was the refresh fof the computers for the staff. swre been having a three year replacement cycle, where we have deployed computers, every year, we have got about 50 to 100 computers that we deploy. so it is the oldest computer that will would be like four years at the most. so to have been up to date we have purchased the latest of 50 commuters over the counter staff on the fifth floor and they will be getting the new pcs this month and we have plans ongoing every year. we have about 100 in the budget to plan. >> commissioner walker? >> are we testing hand held devices at this point? >> that is the next... >> we did... we started this a year ago and we did purchase a few hand held devices upon the recommendations from our ininstruction staff as well as our emergency management staff. we do want to use those for the ininstruction as well as in an emergency if we need to. we purchased a few and deployed them and we got the feedback. and they were motion sealed. >> and t
right after within a couple of weeks after the tax collecters. the next project was the refresh fof the computers for the staff. swre been having a three year replacement cycle, where we have deployed computers, every year, we have got about 50 to 100 computers that we deploy. so it is the oldest computer that will would be like four years at the most. so to have been up to date we have purchased the latest of 50 commuters over the counter staff on the fifth floor and they will be getting the...
SFGTV2: San Francisco Government Television
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hunter: that sales tax counts for about a third of the revenue of the department right now. franklin: we got 75% of the voters to agree to tax themselves so that their children and their children's children could have clean water because we're investing in it now. hunter: there were no alternatives. the infrastructure was in dire straits. a lot of people didn't want to believe it had to be done, but it had to be done. what came out of those lawsuits by the upper chattahoochee river keeper were two consent decrees, focused on overflows. the intent is, city of atlanta, you need to keep the flows in the pipe. narrator: with the help of the funding the city raised, atlanta has been implementing an asset management plan that evaluates and addresses their infrastructure issues. hunter: it's a continuum. at one end, you have your regular maintenance that you do every day on the system, and at the other end, long-term planning so that every year we're repairing, replacing the right things, and we don't have to do it all at once, which is, quite frankly, what we're having to do in at
hunter: that sales tax counts for about a third of the revenue of the department right now. franklin: we got 75% of the voters to agree to tax themselves so that their children and their children's children could have clean water because we're investing in it now. hunter: there were no alternatives. the infrastructure was in dire straits. a lot of people didn't want to believe it had to be done, but it had to be done. what came out of those lawsuits by the upper chattahoochee river keeper were...
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not only do you have to raise the debt ceiling but you -- the republicans have to agree raise taxes. who house th has the gun to
not only do you have to raise the debt ceiling but you -- the republicans have to agree raise taxes. who house th has the gun to
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we picked up $204 million rather than put taxes whose impact fee into the community. it has allowed the industry itself to hire people. there are related companiy ies t hire people. and you know the phrase the necessity is the mother of invention. a lot of inventions are being developed but the energy itself allows businesses across the state to grow. a lot of companies in south eastern pennsylvania and philadelphia are going to be using it to power the refineries, it is looking and hopefully will build a facility that will take the ethonol and take ethanes they are paying around $80,000. the average workforce is $47,000. >> why is the governor still waiting? >> i know what is going on. i know there are a number of people that used to be opposed to it. a lot of them have changed here. but there are a certain group that are opposed to it. but i remind many people we follow it closely and it is a technology that has been used in texas and we feel comfortable that it is flowing the economy here in pennsylvania and it is going to make us and the united states in the long-
we picked up $204 million rather than put taxes whose impact fee into the community. it has allowed the industry itself to hire people. there are related companiy ies t hire people. and you know the phrase the necessity is the mother of invention. a lot of inventions are being developed but the energy itself allows businesses across the state to grow. a lot of companies in south eastern pennsylvania and philadelphia are going to be using it to power the refineries, it is looking and hopefully...
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obama demands the wealthy pay their fair share of taxes. but he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids and gun free zones for ours. >> well, according to poe litke yoe, nra is launching a new lobbying push. the group is turning to allies in the gun manufacturing lobby who are making the case that guns are also about jobs. >>> moving to the debt debate. the u.s. government expected to reach the borrowing limit in one month, newt gingrich says republicans are making a mistake by trying to link the debt ceiling to a deal on spending cuts. >> in the end, it's a threat they can't sustain. no one is going to default. no one is going to allow united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side. i don't think we should pick fights where we're in a position that we can't, in fact, in the end enforce our will. because we have no evidence of president obama's going to compromise. i think the pres
obama demands the wealthy pay their fair share of taxes. but he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids and gun free zones for ours. >> well, according to poe litke yoe, nra is launching a new lobbying push. the group is turning to allies in the gun manufacturing lobby who are making the case that guns are also about jobs. >>> moving to the debt debate. the u.s. government expected to reach the borrowing limit in one...
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Jan 16, 2013
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we have a whole tax code that helps states like new york that have higher taxes because they can take it off of their federal income taxes. that has to be part of that, as well. i think we need to help those in need is something we should be doing but if you are not going to spend 80% of the dollars for two years what's the rush? why hurry? get to the direct needs now and that's what i think is important and that's why i offered a transparency amendment that says let's see where the money is going. fema needs reform. we should be reformed it the last two years, a decade ago, after katrina problems and hopefully we can make progress when we do that. >> thank you very much. we appreciate your time. >>> still to come, france has sent more troops in to mali to fight the war there and the united states promises to help. what is help going to mean for american troops? >>> plus an "outfront" investigation, birth tourism. paying women big money to come to the united states and give birth to new american citizens. >>> and president obama goes it alone on gun control. one senator compares the p
we have a whole tax code that helps states like new york that have higher taxes because they can take it off of their federal income taxes. that has to be part of that, as well. i think we need to help those in need is something we should be doing but if you are not going to spend 80% of the dollars for two years what's the rush? why hurry? get to the direct needs now and that's what i think is important and that's why i offered a transparency amendment that says let's see where the money is...
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Jan 16, 2013
01/13
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the speaker offered increased revenue from taxes. with less than two weeks to go, they thought they had a deal. it became known as the grand bargain. >> it's not every day that the speaker comes to see the president quietly and says, "i'm willing to do a deal" that everybody knows is going to be dangerous for him politically. >> narrator: back at the capitol, boehner would have to convince the new republicans to go along. >> john boehner discovers that deal making is not part of the program for a lot of these freshmen who have just come into office on the strength of conviction politics. >> these freshmen understood what washington was about and chose not to be of washington. and so they wouldn't cave like a typical politician did because they weren't typical politicians. they got elected on principle, not on politics. >> narrator: as the week wore on, obama began to worry about the grand bargain. >> he calls boehner that night and leaves a voicemail. boehner doesn't pick up. >> the president said, "get back to me tonight, john." the
the speaker offered increased revenue from taxes. with less than two weeks to go, they thought they had a deal. it became known as the grand bargain. >> it's not every day that the speaker comes to see the president quietly and says, "i'm willing to do a deal" that everybody knows is going to be dangerous for him politically. >> narrator: back at the capitol, boehner would have to convince the new republicans to go along. >> john boehner discovers that deal making is...
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Jan 16, 2013
01/13
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it is taxed. you don't get to waive the tax. you put the money in the account. it hasn't been taxed yet. if you pull the money out, guess what, you pay the income tax and you pay a penalty of 10% if you're under the age of 59 1/2 although there are some events to qualify to get a waiver of that 10% penalty. either way a loan or withdrawal, even if it's a hardship withdrawal is a real last step in your financial life. you don't want to do that. >> and are most people using the hardship withdrawal. is that what you're finding? >> i think it's a mix. i think people were very damaged in the recession and they didn't have a lot of choices. some people did qualify for the hardship choices. some realize the loan might be better, but, again, these are the last measures. we don't want you to do it. >> how does it affect social security? >> it doesn't really affect social security. everyone says well i don't have the money to put in retirement or i'll work longer. those are precarious assumptions. if you're under 55, i think it's likely to change in your lifetime. you can
it is taxed. you don't get to waive the tax. you put the money in the account. it hasn't been taxed yet. if you pull the money out, guess what, you pay the income tax and you pay a penalty of 10% if you're under the age of 59 1/2 although there are some events to qualify to get a waiver of that 10% penalty. either way a loan or withdrawal, even if it's a hardship withdrawal is a real last step in your financial life. you don't want to do that. >> and are most people using the hardship...